A consortium of local businesspeople on Tuesday won a multimillion-rand tender to buy and develop a beachfront property and then pledged to purge itself of all political connections.

The newly formed Nepad Development Consortium consists mainly of local businesspeople, including East London property dealer Sue Brownlie and landscaper Mdu Madikane.

An exception is Mandisa Marasha, South Africa's high commissioner to Greece, who has a major stake in the consortium and is one of the new company's directors.

The high-flying politician was previously deputy speaker in the provincial Legislature.

The group's chairperson, Nash Mayekiso, committed himself to double-checking all members' political interests before the project begins.

"We will go through our membership and look into all political connections," he said.

The consortium has 29 days to raise R34,5 million, the selling price set for the property by Buffalo City Municipality. Mayekiso, from Butterworth, said the group planned to invest a minimum of R750 million in the property.

The tender process was overseen by the Buffalo City Development Agency, a municipal entity set up to foster property development between East London's beachfront and central business district.

Agency boss Siphiwo Mdila urged the consortium's members to ensure that their project went ahead as promised. "We do not want open spaces after we have awarded contracts," he said.

Construction deadlines on the project are tight but a confident Mayekiso suggested that a sod-turning to mark the start of earthworks would take place within three weeks.

The group plans to build a hotel, apartments and a shopping centre at the Marina Glen site, next door to Holiday Inn.

The proposal beat five other bids, including one from Izingwe Properties, an established property investor in Port Elizabeth.

Buffalo City Mayor Zintle Peter said the award of the tender was proof that the city's promises were turning into reality, contrary to comments from "doubting Thomases".

"It is a moment of truth because it proves that when we say we intend to do something we mean business."

She added that it was the first of many steps to transform a section of the beachfront area.

The municipality has created an Urban Development Zone where tax incentives are available for renovations and new construction work.

The area includes the esplanade, the Quigney, a lower section of the CBD and all of the "sleeper site" an area of land around the city's train station.

Daily Dispatch